Job Description
UMODZI SACCO
UMODZI Savings and Credit Cooperation Limited is a member owned financial cooperative serving all civil servants and Non-Governmental Organizations in Malawi. The SACCO is an affiliate of Malawi Union of Savings and Credit Cooperative (MUSCCO), and is also fully licensed by Reserve Bank of Malawi (RBM). Umodzi SACCO is looking for energetic, self-motivated and enthusiastic person to fill the position of Credit and Collections Officer.
Key Duties and responsibilities include the following:
- Ensure all potential and existing members understand the responsibilities attached to a loan as stipulated in the SACCO’s loan policy
- Assist in the SACCO’s credit function by producing periodic reports; policy compliance; regulatory compliance; bad loans management; provisioning collections.
- Lead in the facility collection by classifying facilities according to age; constantly checking that no exposures are created without approval; constantly following up branches on collections; collections of all bad facilities
- Make objective recommendations on potential borrower’s 5Cs i.e. character, creditworthiness, condition, collateral and paying capacity to the CEO and credit committee.
- Along with group leaders facilitate orientation, meetings and ensure 100% attendance and collection of repayments.
- Ensure that all payrolls received are accurately uploaded in the system and reconciliation is done on a monthly basis
- Monitor loans disbursed from all respective branches
- Take immediate action with past due payments according to the SACCOs delinquency management policies and procedures to ensure prompt repayment i.e. preparing demand letters, phone calls and physical chasing.
- Ensure portfolio at risk remains below 5% at all times
- Advising management on issues that need review on loan recoveries
- Ensuring 100% collection on unpaid interest and arrears
- Maintaining fluency in product knowledge and collection procedures necessary for resolving client queries
- Participate in occasional market research surveys that may lead to new product development and or measure transformation.
Qualification and Experience
- Degree in Business Administration, Accountancy, Banking or its equivalent
- At least three years’ experience working in a financial institution (loans department)
- Knowledge of SACCO business
- Must be between the ages of 27-45
- Knowledge of Fin-Financials core banking system or any banking system
- Experience in all terrain areas will be an added advantage.
Method of application
Applications must include a covering letter explaining your suitability for the position, a detailed curriculum vitae (CV) giving details of qualifications and experience, certified copies of relevant certificates, valid mobile phone numbers and names and addresses of three traceable referees; one of which must be from the recent employer should be brought directly to our offices in Lilongwe OR sent to the following email address saccoumodzi@gmail.com or post not later than 30th of October 2024.
The CEO
Umodzi SACCO
P.O. Box 709
Lilongwe.